RSI Lido is a forex trading system. It is a simple forex trading system. This forex trading system can be used by the newbie traders as well as experienced traders to make money consistently in the forex market. Any time frames can be used but lower time frames than 5 minutes are not recommended as the market is really choppy in the time frame like 1 minute chart. There are two technical indicators at the main chart and an indicator in the indicator window.
when the RSI Lido System is correctly loaded on your trading platform, your chart should look like this:
1) Fibo Pivot
Fibo Pivot is the pivot levels that are plotted on the basis of fibonacci retracement/extension levels. These levels can be used to set the potential stop loss and take profit levels. Besides these, these levels can also be used as potential entry/exit levels.
2) AnyMA RSI
AnyMA RSI consists of few other indicators. It consists of moving averages, custom made indicator, etc. One one of the main indicator of this indicator is arrow. You can see red and green arrows on the chart. Those arrows are actually the buying and selling signals.
3) RSI Lido
RSI Lido is a custom made technical indicator which consists of an oscillator that fluctuates within the territory of 0 to 100. It is a customized form of the ordinary Relative Strength Index indicator.
To be brutually honest, this system does not generate very clear trading signals like other forex trading systems. The signals generated are quite vague in nature. Due to this reason, some of the newbie traders might find this forex trading system difficult to understand and use in their real trading life. But, one can master it by practicising.
Buying Conditions Using RSI Lido System.
1) AnyMA RSI indicator should appear below the market level.
2) Market should be above the two moving averages.
3) RSI Lido should be trending higher.
4) place your long position as soon as above conditions are met.
5) Place your stop loss just below the recent swing low.
6) Take your profit as soon as the market falls back to touch the moving averages.
Selling Conditions Using RSI Lido System.
1) AnyMA RSI indicator should appear above the market level.
2) Market should be below the two moving averages.
3) RSI Lido should be trending lower.
4) place your short position as soon as above conditions are met.
5) Place your stop loss just above the recent swing high.
6) Take your profit as soon as the market rises back to touch the moving averages.
Download Free Forex RSI Lido System